Sign In  |  Register  |  About Sunnyvale  |  Contact Us

Sunnyvale, CA
September 01, 2020 10:10am
7-Day Forecast | Traffic
  • Search Hotels in Sunnyvale

  • CHECK-IN:
  • CHECK-OUT:
  • ROOMS:

Morgan Stanley, Goldman Sachs, Wells Fargo, and Bank of America to Raise Their Dividends After the Federal Reserve’s Annual Stress Test.

The dividend of Goldman Sachs (NYSE: GS) will be increased from $2 to $2.50 per share. We will continue to dynamically manage capital and remain well-positioned to service customers,” CEO David Solomon said in a regulatory filing on Monday.

According to a press release, Morgan Stanley (MS) has authorized a $20 billion share repurchase program and aims to enhance shareholder payouts by 11% to 77.5 cents per share.

BAC and WFC have both increased their quarterly dividends to 22 cents and 30 cents, respectively, from the previous 22 cents and 30 cents.

In Tuesday’s premarket trade, Goldman Sachs shares gained 1.4%. Shares of Morgan Stanley, Bank of America, and Wells Fargo were all up more than one percent.

In view of “greater future capital needs,” JPMorgan & Chase (JPM) plans to keep its quarterly dividend at $1 per share. “In a variety of stressful situations,” Citigroup (C) says it can retain its 51-cent dividend.

For the first time since 2007, this year’s Fed’s annual bank stress test featured a worldwide recession scenario that includes growing unemployment, falling commercial real estate values, and a dramatic slide in stock prices. The findings of this year’s test were announced on Thursday.

Despite an estimated $612 billion in losses, “all banks tested were over their minimum capital requirements,” the Federal Reserve stated in a statement. By the Fed’s estimations, the banks’ capital ratios would fall to 9.7 percent, which is more than twice the minimal requirements.

The post Morgan Stanley, Goldman Sachs, Wells Fargo, and Bank of America to Raise Their Dividends After the Federal Reserve’s Annual Stress Test. appeared first on Best Stocks.

Stock Quote API & Stock News API supplied by www.cloudquote.io
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
 
 
Copyright © 2010-2020 Sunnyvale.com & California Media Partners, LLC. All rights reserved.